Britain must make it easier for staff based overseas to work remotely in London as the UK capital falls further behind New York on the global financial services ranking list, sector lobby group TheCityUK said in a report on Thursday.
Britain's leading role in financial services investment faces challenges from three continents, as Singapore, France and Germany also quickly catch up.
While the UK remains the largest destination for financial services foreign direct investment in Europe, some UK companies are choosing to list abroad -'s New York flotation being a recent example - while European Union centres like Amsterdam compete harder with a post-Brexit Britain largely cut off from investors in the bloc.
Business visa rules should be amended to allow staff based overseas to work remotely for financial firms in Britain, and vice-versa, the report said.
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